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donough president obama's me chief of staff, who i presume has brought many answers with him this morning. nice to have you. >> thanks for having me, bob. i'm really looking forward to it. >> schieffer: the sequester these draconian across-the-board spending cuts that are supposed to go into effect march 1. it appears to me that this is anything to happen. it looks to as if both the president and the congressional leaders have given up on each other. can this possibly happen? >> well, we've not give know up on this, bob and the reason we've not given up on this is because it's going to have a real impact, on middle-class families-- >> schieffer: it's going to have an impact on everybody. >> across the board. the lens through which the president is going to see the fight is what is the impact on middle class family and the kind of investments we expect for the economy to grow from the middle out. so our hope is that this does not happen, that we choose-- rather than make this an ideological fight as it appears to be right now among some on the republican caucus, we just do a balanced approach to
's wrong with the company and president obama mrs. pelosi, steny hoyer and top harkin, all prominent democrats have all said "we don't have a spending problem in this country." they think what's wrong with our country is we tax too little. well most americans watching today, bob don't think we have a trillion-dollar deficit for four consecutive years because we taxes too little. they know it's because we spend too much. >> schieffer: but isn't what you're saying, governor, what people say is wrong with washington. here we go again. governor barbour says it's all the fault of the democrats will and the president says it's all the fault of the republicans and i want to know where there is some ground rathe 22 sides could get together and get something done. is there such a place? >> you're going to see on the sequester-- i believe you're correct the sequester will go into effect. >> schieffer: you do think? >> i do, and there are a lot of republicans that don't like parts of it, but they understand we've come to a point where we've got to take action about spending. and the democrats s
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